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Market Infrastructure
MAS Revises Anti-commingling Framework For Banks
By Manesh Samtani | 02/12/2020
MAS has prescribed a list of permissible non-financial businesses to ensure banks are not engaging in “high-risk non-financial business that do not bring strategic value to its core banking business”.
AML / KYC
FATF Consults on AML/CTF Frictions in Cross-border Payments
By Editors | 01/12/2020
The FATF seeks feedback to help identify how divergent AML/CFT measures adopted at the national level add to the challenges of cross-border payments.
Market Infrastructure
Some USD LIBOR Settings May Continue Past End-2021
By Manesh Samtani | 01/12/2020
ICE Benchmark Administration intends to continue publishing some tenors of USD LIBOR until end-June 2023, which could allow time for most legacy contracts to mature.
ESG / Sustainability
Singapore Banks Get New Best Practice Code for Commodity Financing
By Editors | 01/12/2020
The Code was developed by an industry working group of 28 commodity financing banks in consultation with trading firms and with the support of regulators.
Fintech / Regtech
Lack of Electronic Solutions Hindering Capital Market Access: ASIFMA
By Editors | 30/11/2020
The report calls on government and regulators to facilitate greater use of e-signatures, virtual meetings, and other electronic solutions in Hong Kong and Singapore capital markets.
Fintech / Regtech
Singapore E-wallets to Gain Direct Access to FAST, PayNow
By Manesh Samtani | 30/11/2020
Consumers will be able to top-up their e-wallets directly through their bank accounts, rather than using a debit or credit card. Fund transfers between e-wallets will also be made possible.
Market Infrastructure
ASIC Issues Guidance on Managing LIBOR-related Conduct Risk
By Editors | 30/11/2020
The new guidance is aimed at assisting entities in establishing necessary arrangements to mitigate conduct risk associated with the discontinuation of LIBOR.
Securities / Derivatives
Japan FSA Orders JPX, TSE to Improve Following Market Outage
By Editors | 30/11/2020
TSE President and CEO Koichiro Miyahara has resigned to take responsibility for a system failure that caused a full-day market closure in October.
Fintech / Regtech
NZX to Create Industry Working Group on Capital Markets Technology
By Editors | 30/11/2020
The working group will develop a roadmap to solve for New Zealand’s lack of scale and geographic isolation through the use of technology.
Market Infrastructure
HKEX Announces Stock Connect Expansion Arrangements
By Manesh Samtani | 29/11/2020
Pre-revenue biotech companies listed on Hong Kong’s Main Board will be included from 27 December. SSE STAR Market stocks will be included in early 2021.
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